17.07.2025 | News
In connection with the fourth annual Ukraine Recovery Conference, multiple key financing agreements were signed and formalised, underscoring the strong commitment of Nordic governments to Ukraine’s future and green recovery. Nordic funding will drive modernisation and recovery projects managed by Nefco in Ukraine, fostering resilience and sustainability of municipalities.
As governments, international organisations, financial institutions, businesses, regions, municipalities and civil society convened at the fourth annual Ukraine Recovery Conference (URC) in Rome, Nefco announced new contributions totalling EUR 95 million from Nordic countries to support Ukraine’s reconstruction and transition to a green economy. In connection with the conference week, key financing agreements were signed and formalised, underscoring the strong commitment of Nordic governments to Ukraine’s future and green recovery.
These funds will drive modernisation and recovery projects managed by Nefco in Ukraine, fostering resilience and sustainability of municipalities in the face of ongoing challenges. Since July 2022, Nefco has mobilised over EUR 400 million for green recovery activities, with some 50 projects currently ongoing despite the war.
Major modernisation project in Lviv with funding from Denmark and Sweden
To address the excess effluent flowing into the Poltva River and build local energy resilience, a major modernisation of Lviv’s wastewater treatment plant is underway. The funding for the two phases of this project totals EUR 70 million where Impact Fund Denmark is contributing EUR 12 million and the Swedish International Development Cooperation Agency (Sida) EUR 3.7 million.
- Read more: Nordic countries contribute to the modernisation of wastewater treatment in Lviv, Ukraine
New contribution from Norway to green reconstruction
To support energy-efficient school buildings, rehabilitation of water infrastructure and solar energy in Ukraine, Norway is increasing its support through Nefco by EUR 25.5 million for the period 2025–2027.
Reconstruction in Mykolaiv with a new contribution from Denmark
With Danish funding, Nefco has signed three new financing agreements with Mykolaiv city and the village of Domanivka for measures related to restoration of water infrastructure, solar power and substations for the district heating system. The new contribution of EUR 45.5 million from Denmark for various reconstruction projects.
These Nordic contributions mark significant progress in building a greener and more resilient Ukraine, while strengthening ties between Ukraine and the Nordic region.
Nefco has been active in Ukraine for over 20 years and currently plays a key role in the country’s green recovery efforts by focusing on concrete actions by Ukrainian cities and utilities. Through its Green Recovery Programme for Ukraine, Nefco has mobilised over EUR 400 million from the Nordic countries and the EU, to support Ukraine in building back greener and better. Since 2022, 30 projects have been completed, with a further 50 currently underway, focused on critical municipal infrastructure, energy resiliency, educational and healthcare facilities, and urgent housing needs. Read more on Financing green recovery in Ukraine.
For further information, please contact:
Bo Eske Nyhus, Investment Director, Nefco
bo.nyhus@nefco.int, +358 10 6180 665
Josefin Hoviniemi, Vice President Communications, Nefco
josefin.hoviniemi@nefco.int, +358 50 464 6995